BRITISH COLUMBIA – The failing coal market has forced Teck Resources of Vancouver to announce temporary shutdowns at its six Canadian steelmaking coal operations to adjust production and inventories. The Fording River, Greenhills, Line Creek, Elkview and Coal Mountain mines in BC as well as the Cardinal River mine in Alberta will be shut down for approximately three weeks during the third quarter.
The shutdown is expected to have no effect on meeting commitments to Teck customers.
Teck says that unit operating costs and distribution costs for 2015 remain unchanged. The cost of capitalized stripping will fall to $65 million, due both to lower tonnage and productivity improvements introduced earlier this year.
Further information about Teck’s coal mines is available at Teck.com.